Compliance Tips Regarding Anti-Money Laundering

AUTHOR(S)

Longfellow, Tom

PUB. DATE

September 2006

SOURCE

Journal of Financial Planning;Sep2006 Supplement, p15

SOURCE TYPE

Academic Journal

DOC. TYPE

Article

ABSTRACT

This article provides advice for meeting U.S. federal anti-money laundering regulations. Money laundering has become a significant concern since the terrorist attacks of September 11, 2001 on the United States, as U.S. federal officials have become wary of organizations that launder money to finance terrorism. A series of suspicious activity indicators for banking customers are also provided, including checks on customer behavior, the opening of multiple bank accounts, and frequent account activity.

ACCESSION #

22334893

Related Articles

The article looks at the lessons and changes made in how the U.S. government and banks understand terrorist financing after the September 11, 2001 terrorist attack. One is the increase awareness on terrorist financing risk and rise of money laundering activities that did not gain much attention...

This paper examines efforts at international cooperation and international organizations' role in the fight against money laundering and terrorist financing before and after 9/11. Globalization makes it more difficult to effectively address issues requiring global governance within the limits of...

Reports that anti-money-laundering plans in the U.S. are being actively implemented by law enforcement, regulatory and compliance officials in the aftermath of the September 11, 2001 terrorist attacks. Restrictions imposed on the U.S. financial system by the USA Patriot Act; Necessity of the...

The article discusses the problem of trade-based money laundering (TBML). Craig Schurr, senior vice president and international division manager for FirstMerit Bank NA, says that the use of seemingly legitimate trade transactions to launder money is increasing. Topics discussed include...

Reports the plan of law enforcement officials to track the assets of terrorists linked to the September 11, 2001 attack and their supporters in the United States. Efforts to prevent acts of terrorism; Creation of an anti-terrorism bill containing anti-money-laundering provision; Commitment of...

The article outlines the significance of Anti-Money Laundering/Counter-Terrorism Financing (AML/CTF) to businesses in Australia. Such rule is aimed in battling money laundering and terrorist financing carried out effective December 12, 2008. The obligations involved on the rule include ongoing...

Reports on Australian banks' increased spending on monitoring their customers' transactions for signs of terrorists financing their activities or criminals laundering money. Survey conducted by KPMG of the top banks from a number of countries; Worldwide increase in the costs of complying with...

An encyclopedia entry for "money, laundering of" is presented. It refers to the laundering of illegal earnings. Money laundering is said to be a massive global business that mostly involves banks. In Canada, the issue of money laundering is addressed by the Financial Transactions and Reports...